China's job market proved resilient despite slowing economic growth in the first ninemonths of the year, according to data from the Ministry of Human Resources and Social Security(MHRSS) on Friday. From January to September, 10.82 million new jobs were created, 160,000 more than a yearago, MHRSS said. Updated 4 Years ago

The Memorandum of Understanding on Establishing the Asian InfrastructureInvestment Bank (AIIB) specifies that the authorized capital of AIIB is $100 billion and the initialsubscribed capital is expected to be around $50 billion. The paid-in ratio will be 20 percent,according to Chinese Finance Minister Lou Jiwei on Friday. Lou said Prospective Founding Members have agreed that GDP will be the basic parameter indetermining share allocation among member countries. Therefore, China will be the largestshareholder. Updated 4 Years ago

Brazilian mining giant Vale's iron ore production increased 3.1% year-on-year in the third quarter to 85.7Mt, its highest output ever, the company said. "The good operational performance was due to the ramp-ups of Carajás' plant 2 and the new Conceição Itabiritos plant," Vale said in its 3Q14 production report. Updated 4 Years ago

The continued drop in oil prices will not affect Mexico's 2015 budget or plunge the country into debt, according to the finance ministry and the president of the senate's energy committee. The price of Mexican crude has fallen US$12/b over the last month and 26% since June to below the government's US$81/b price floor – used to calculate the 2015 budget – to US$77.09/b on October 16 Updated 4 Years ago

The integration of Chinese IT manufacturer Lenovo and IBM's low-end server business has been completed in Brazil, Chile, Colombia, Mexico and Peru. Lenovo's business development and project management director for LatAm, Paulo Fernandes, told the Canalys conference in Rio de Janeiro that both companies have been working for the past six months on integrating operations. The US$2.3bn sale of IBM's x86-based server unit was signed in January. Updated 4 Years ago

Amazon.com Inc. (AMZN) forecast sales and profit for the holiday quarter that missed analysts’ projections, underlining the limits to Chief Executive Officer Jeff Bezos’s strategy of spending big to fuel growth. Revenue for the fourth quarter is anticipated to be $27.3 billion to $30.3 billion, the Seattle-based company said in a statement today, while profit excluding some items will range from a loss of $570 million to a gain of $430 million. Analysts on average projected sales of $30.9 billion and profit of $460.5 million, according to data compiled by Bloomberg. Updated 4 Years ago

Fourteen months after Brazil began selling billions of dollars-worth of derivative contracts to shore up its currency, the strategy is proving ineffective and raising concern in financial markets. The real fell to a six-year low yesterday and is the world’s most volatile currency. Some analysts say the swaps, which are equivalent to selling dollars in the futures market and now amount to 27 percent offoreign reserves, are approaching critical levels. The opposition’s presidential candidate has indicated he’d discontinue their use. Updated 4 Years ago

To Nelson Bunker Hunt, the world was full of enemies. There was inflation. It was running as high as 13 percent in the 1970s, like a thief threatening to steal the family fortune earned by his father, H.L., in the oil fields of East Texas. There was Muammar Qaddafi and the American oil men who collaborated with him. When Hunt and his brothers William Herbert and Lamar had refused to pay Qaddafi half their earnings from the Libyan oil fields, like their competitors had, Qaddafi had simply snatched the Hunts’ 8 million acres. Updated 4 Years ago

Quantitative easing may turn out to be a gift that keeps on giving for the U.S. economy. As the Federal Reserve prepares to end its third round of bond buying next week, the central bank plans to hang on to the record $4.48 trillion balance sheet it has accumulated since announcing the first round of purchases in November 2008. Updated 4 Years ago